(2nd LD) N. Korean hackers blamed for record US$6.36 bln Binance cryptocurrency theft: U.S. firm - Yonhap News Agency
North Korean hackers are suspected of stealing an estimated US$6.36 billion in cryptocurrency from Binance, the world's largest exchange, in what would be the biggest theft on record, according to a U.S. blockchain intelligence firm.
TRM Labs said it has high confidence that the hacking group TraderTraitor was behind the attack, which began with preparations at least 36 hours in advance.
The group allegedly gained access to systems used to authorize cryptocurrency transfers, allowing them to move funds without permission.
Most of the funds were taken in about 20 minutes across 10 different blockchain networks.
Frozen and remaining assets
About $2.7 billion in stolen assets has been frozen through cooperation among cryptocurrency companies and blockchain operators.
However, the hackers still controlled roughly $2.4 billion worth of Bitcoin and Ethereum.
The hackers could try to hide the origins of the stolen funds by moving them between different blockchain networks and cryptocurrency trading platforms.
Binance response and FBI involvement
Richard Teng, co-CEO of Binance, stated that the company was working non-stop to resolve the issue.
We are committed to covering all hacked losses through our company funds. Your assets are safe.
Binance has reserved over $6.34 billion of company funds to cover the stolen assets, with $5 billion already held in the exact token assets that were impacted.
The U.S. Federal Bureau of Investigation is aware of the incident and is coordinating with partners to understand the scope of the activity and evaluate potential impacts.
Historical context and political reaction
This attack would far exceed the $1.5 billion stolen from the cryptocurrency exchange Bybit in February 2025, which the FBI also attributed to TraderTraitor.
U.S. officials have previously noted that North Korea relies on networks of its nationals abroad and foreign-based facilitators to launder stolen digital assets into fiat currency for procurement activities and for funding its weapons of mass destruction programs.
We don't know. We are looking at that, the hack with Binance.
U.S. President Donald Trump acknowledged that the case was being pursued by law enforcement authorities.
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